The Internet of Payments

The growing trend for banks to open themselves to interoperability enabled by APIs can lead to dramatic shifts in the marketplace. In September 2016, IFX President, Rich Urban and Traxiant CEO, Roger Bass, published this white paper and presented it to a large group of vendors and banks interested in the subject.

The white paper focuses on one particular capability that can be easily imagined as part of the ecosystem that can evolve from Standardized Banking API protocols. Among other things, we conclude that conditions are ripe for banks, vendors and other service providers to join forces to realize the IoP potential. We further propose that this work can be an early example of how Standardized Banking APIs can be developed and managed in such a way as to create competitive advantage for early adopters.